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HomeMy WebLinkAbout2008-195^ 4 T 8 1 ` C FIRST AMENDED DEVELOPER AGREEMENT BETWEEN oQ 13 _ � INDIAN RIVER COUNTY, FLORIDA AND CRF -PANTHER IX, LLC THIS AGREEMENT, entered into this 17th day of jl1nP 2008, by and between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, 1801 27th Street, Vero Beach, Florida, 32960, hereafter called COUNTY, and CRF -PANTHER IX, LLC, 500 South Florida Avenue, Suite 700, Lakeland, Florida 33801, hereafter referred to as DEVELOPER. WITNESSETH WHEREAS, the DEVELOPER has applied to develop a commercial development to be known as Century Town Center, consisting of 99,819 square feet of retail (the PROJECT) to be built on the south side of State Road 60, west of 58th Avenue in Indian River County, Project Number 06-07-31/2004060358, the legal description is attached as Exhibit A and incorporated herein by reference; and, WHEREAS, the COUNTY and the DEVELOPER entered into a Developer Agreement on January 9, 2007, (Original Agreement) providing for certain improvements to be made to the intersection of College Lane and 58th Avenue, and DEVELOPER -funded monetary contributions toward intersection improvements at State Road 60 and 58th Avenue, and 16th Street and 58th Avenue; and, WHEREAS, one of the conditions of the Original Agreement is for the DEVELOPER to construct a 2nd left turn lane on eastbound College Lane approaching 58th Avenue; and, WHEREAS, to construct the 2nd left turn lane, several Florida Power and Light poles will need to be relocated; and, WHEREAS, the COUNTY is planning to construct roadway improvements at the intersection of College Lane and 58th Avenue including the relocation of electrical utilities; and, WHEREAS, the COUNTY and the DEVELOPER share mutual concerns with respect to the relocation of the utility lines and poles at the intersection of College Lane and 58th Avenue; and, WHEREAS, both the COUNTY and the DEVELOPER can mutually benefit through a joint effort that will share the cost of the relocation of the utility lines and poles near the intersection of College Lane and 58th Avenue. NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter, the COUNTY and DEVELOPER agree as follows: l . The above recitals are affirmed as being true and correct and are thereby incorporated herein. 2. The original Developer Agreement dated January 9, 2007 is amended by adding paragraph 2 D. as follows: 2. D. As a result of the construction of the 2nd left turn lane on eastbound College Lane approaching 58th Avenue, the DEVELOPER would be required to relocate several Florida Power and Light poles. The parties agree that the DEVELOPER's fair share to relocate these poles and construct the 2nd left turn lane is $448,798. The DEVELOPER shall pay to the COUNTY, within 30 days of the execution of this agreement, the sum of $448,798 as its fair share contribution toward relocation of the poles and construction of the 2nd left turn lane. No impact fee credits shall be given as a result of the $448,798 payment, and the payment is non-refundable. In exchange for the $448,798 payment, the DEVELOPER will no longer be required to construct the 2nd left turn lane as a condition of the PROJECT. The COUNTY will subsequently include construction of the 2nd left turn lane as part of the State Road 60 / 58th Avenue intersection improvement project. The COUNTY shall be responsible for the construction of the 2nd left turn lane including advertisement for bids, contractor selection and construction inspection. The DEVELOPER is paying the $448,798 fee in lieu of relocating the poles and constructing the 2nd left turn lane. Given the proximity and schedule of the COUNTY's State Road 60 / 58th Avenue intersection improvement project, it is not possible for the DEVELOPER to relocate the affected Florida Power and Light poles, and construct the 2nd left turn lane, without negatively impacting the COUNTY intersection improvement project. 1441 At,... 2 Y The opinion of probable construction cost, totaling $448,798, has been approved by the COUNTY. Except as supplemented herein, the terms and conditions of the Agreement shall remain in full force and effect. To the extent of any conflict between the terms of this Amendment and the terms of the Agreement, the terms of this Amendment shall control. IN WITNESS WHEREOF the COUNTY and DEVELOPER has caused these presents to be executed in their names, the day and year first above written. CRF -PANTHER IX, LLC COMMISSIONERS BY: ANCHOR INVESTMENT CORPORATION OF FLA., a Florida corporation, its Manager, Chairman BY: William D. Drost, V.P WITNESS: BOARD OF COUNTY*'.; ; INDIAN RIVER'COUNTY, FLORItD'A, BY: e If 7 V . L..Ohainnan BCC Approved: June 17, 2008 E WITNESS: Administrator (corporate seal is acceptable in place of witnesses) (Approved as to form and legal sufficiency) Attest: For: Jeffrey K. Barton, Clerk J.K. BARTON CLERK CIRCUIT COURT EXHIBIT A WEST 20 ACRES OF TRACT 9, SECTION 5, TOWNSHIP 33 SOUTH, RANGE 39 EAST, ACCORDING TO THE LAST GENERAL PLAT OF LANDS OF THE INDIAN RIVER FARMS COMPANY FILED IN THE OFFICE OF THE CLERK OF THE CIRCUIT COURT OF ST, LUCIE COUNTY, FLORIDA, IN PLAT BOOK 2, PAGE 25.